CyberArk and DSCI Highlight SaaS Benefits in New Report

CyberArk, in collaboration with the Data Security Council of India (DSCI), has released a new report titled “Orchestrating Multi-Cloud Identities - A Unified Approach to Access Management.” The report was unveiled during CyberArk’s annual Impact World Tour 2024 event in Mumbai. Its purpose is to emphasize how well-implemented SaaS solutions can enhance organizational cybersecurity while managing complex IT environments.

Vinayak Godse, CEO of DSCI, commented on the report, stating, “The cloud revolution has transformed the digital landscape over the past two decades, and its growth shows no signs of slowing. As organizations increasingly adopt cloud solutions, advanced SaaS platforms are emerging as critical tools for meeting diverse security needs. These platforms enable centralized management of identity and access across multi-cloud environments, helping organizations maintain a cohesive and robust security posture.”

Underutilization of SaaS in Key Sectors

Indian sectors such as healthcare, financial services, and government remain prime targets for cyberattacks, yet many organizations still depend on outdated systems that lack modern identity security features. This reliance leaves them vulnerable to identity-related threats. Despite the increasing use of cloud services in India, adoption rates remain slow:

• By 2026, 60% of global banks are anticipated to adopt SaaS platforms, potentially reducing operational costs by 30%, although security and regulatory concerns hinder progress.
• The SaaS market in India’s healthcare and pharmaceuticals sector is projected to reach $42.13 billion by 2027. However, issues related to data privacy and integrating legacy systems pose significant challenges.
• The adoption of SaaS in manufacturing and logistics is growing at an annual rate of 15%, driven by improvements in supply chain management and operational efficiency, yet overall uptake is sluggish.

Advantages of SaaS

Despite common misconceptions, SaaS can significantly bolster cybersecurity for organizations managing complex IT environments. Key benefits include:

• Centralized identity and access management via Single Sign-On (SSO), which reduces password fatigue, streamlines login processes, and mitigates the risk of phishing attacks.
• Continuous monitoring by 24/7 security operations centers (SOCs) equipped with AI-powered anomaly detection to quickly respond to potential threats, preventing breaches.
• Rapid vulnerability addressing, with SaaS providers typically patching security issues within hours or days, compared to an average 97-day delay for organizations.
• Scalable security expertise that smaller organizations may not afford in-house, thus reducing the resource burden associated with advanced cybersecurity.
• End-to-end encryption for data at rest and in transit, along with compliance controls for local regulations.

Emerging technologies like AI, blockchain, edge computing, and quantum-safe cryptography are set to further enhance the security and efficiency of SaaS identity management. Organizations that remain updated on these trends and adapt their security strategies effectively are better positioned to maximize the benefits of SaaS while minimizing risks.

Rohan Vaidya, Area Vice President for India & SAARC at CyberArk, stated, "Properly implemented SaaS solutions can deliver substantial security advantages that help organizations bolster their protection in complex IT environments. Success in SaaS integration hinges on careful implementation, selecting the right partners, and maintaining a proactive approach to security and compliance."